Market Overview

lululemon athletica inc. Appoints Calvin McDonald Chief Executive Officer

Share:

Proven leader from Sephora Americas selected to fuel long-term growth
for iconic brand

lululemon athletica inc. (NASDAQ:LULU), the healthy lifestyle inspired
athletic apparel company, today announced the Board of Directors has
appointed Calvin McDonald to serve as Chief Executive Officer, effective
August 20, 2018. For the past five years, Mr. McDonald served as
President and CEO of Americas for Sephora, an acknowledged growth engine
within the LVMH family of global luxury brands. Mr. McDonald will become
a member of lululemon's Board of Directors.

"Calvin McDonald has an impressive track record leading organizations
through periods of significant growth and innovation. He is the ideal
match for the lululemon brand and culture given his strong consumer
mindset, performance-driven approach, and success developing people,"
said Glenn Murphy, chairman of the Board of Directors of lululemon.
"Each member of our Board met him during our thorough process. We're
confident Calvin will maintain the momentum in the business and take
lululemon to new heights."

Under Mr. McDonald's leadership, Sephora delivered double-digit growth
year after year, expanded its product offerings, created new digital
platforms and store experiences, and expanded in global markets,
including Brazil and Mexico, as it became the recognized market leader
in North and South America.

"I'm joining lululemon at an exciting time, with the brand's strong
business momentum, guest loyalty and passionate employees," said Mr.
McDonald. "I look forward to working with the talented team at lululemon
to deliver long-term growth through great product, constant innovation,
and serving guests however they choose to engage with us, today and into
the future."

Mr. Murphy returns to serving as non-executive Chairman of the Board and
will ensure a smooth leadership transition. The three executives,
Celeste Burgoyne, Stuart Haselden and Sun Choe, who successfully guided
the day-to-day operations of lululemon since February will report to Mr.
McDonald.

"On behalf of the Board and employees of lululemon, we all would like to
thank Celeste, Stuart and Sun for their strong leadership that helped us
achieve our stellar performance this year, and we look forward to their
continued contributions," Mr. Murphy added.

Prior to joining Sephora in 2013, Mr. McDonald spent two years as
President and CEO of Sears Canada. He also honed a broad range of retail
and leadership skills during a 17-year period at Loblaw Companies Ltd.,
the largest retailer in Canada. Among his management roles at Loblaws,
Mr. McDonald led a business unit with approximately 40,000 employees
responsible for $15 billion in annual revenue and expanded the
President's Choice private label brand.

A triathlete, Mr. McDonald, 46, was born in Canada and earned an MBA
from the University of Toronto, and Bachelor of Science degree from the
University of Western Ontario.

The company will release its financial results for the second quarter of
fiscal 2018 on August 30, 2018.

About lululemon athletica inc.

lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired
athletic apparel company for yoga, running, training, and most other
sweaty pursuits, creating transformational products and experiences
which enable people to live a life they love. Setting the bar in
technical fabrics and functional designs, lululemon works with yogis and
athletes in local communities for continuous research and product
feedback. For more information, visit www.lululemon.com.

View Comments and Join the Discussion!